The new investment will create 1,500 new jobs, in addition to the 1,900 workers already employed at the plant, Djuric said in a Facebook post over the weekend.
Continental opened the new 140 million euro factory in Novi Sad last year. It produces high-tech solutions for vehicle interiors on an area of 30,000 square metres. Its construction started in 2021.
Along with the new factory opened in 2023, the company also has a facility for production of electronic systems for the automotive industry, and an R&D centre in Novi Sad.
In addition, Continental has a plant for pipes and pipe systems for vehicle powertrains in the northern city of Subotica, some 100 km north of Novi Sad.
($ = 0.928 euro)